[nomoracin]

When should payments begin for folks doing ED?

My first payment is due soon, but I won't take delivery until Sept 19...and then another 2 months until it arrives to the States.

Is this normal?

[chmura]

You should of paid for the car 2 weeks prior to leaving to Germany. Around September 5th. So that means your first payment will be due October 5th?

If you financed through bmw fs than they wave one payment I believe. If you got your own financing you can ask your bank to have your first payment delayed but you will still occur interest in that time frame. Pretty much SOL if you didn’t finance through BMW.

[bobert]

As chmura said, you should have paid for the car about two weeks before the ED trip - not sure why you would do the contract so early. You only have to make full payment (i.e., do the contract & get the loan, if you are not paying cash) 7-10 days before the trip.

If you finance with BMW FS, you can push the first payment as far as 45 days after the contract. Since my credit union refuses to finance a car before it's on US soil, I started with BMW FS, did the contract two weeks before I left, and pushed the payment out as far as I could, so I could make the first payment after the ED trip (though before the car arrived in the US of course). Then I refinanced with my credit union.